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Automotive News & Views United Automobile Workers of America (UAW)
16738 messages, Last post on Dec 03, 2009 at 10:07 AM
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Replying to: andre1969 (Jun 25, 2009 7:01 am)   . The only reason I brought it up is to contrast private sector pension benefits with those in the public sector, and why it's hard to sympathize with those retiring from various government entities who complain that they're only getting 70 or 80 percent of their final salary. |
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My ex is a civilian employee for the Navy in California. She started working there as a "temp" in 1987, then got hired on as a regular employee the following year. This means she's got 21 years in, so far. No plans to retire soon, I suspect - in fact, I heard she just got a promotion to her old boss' job (he/she retired). Now, she's trying to get my son on board at the base as well, doing clerical work. He'd start as a GS-4, which in CA means he would get $14+ per hour. He still wants to attend school in the evenings, though his chosen field (early childhood education) wouldn't pay nearly as well as the government job, nor come with the same level of benefits. |
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Replying to: wesleyg (Jun 25, 2009 7:24 am) I always thought that was a bit of a shaft, how they penalize your social security if you work too much in "retirement". I mean, if you paid in all those years, I think you should be entitled to your full benefit. I mean, you get taxed on SS payments anyway, don't you? Plus, when you took that Fortune 500 job, I presume you were paying into SS yet again. My grandmother retired from the federal gov't in 1980, same year as her cousin. She really didn't want to retire, as she was only 56 and liked to work, but the hospital she was working at got shuttered (and still sits abandoned to this day. It's a bit of a local landmark and the stuff of urban legend these days. Glenn Dale Hospital, if anyone wants to google it). She went back to work part time/on-call throughout the years, and had enough quarters in overall to get social security. I do remember though, that she always had to watch how much she made, so that it didn't penalize her. That lady that worked with us for a few years (she's still around too, I saw her in the K-mart across the street on her lunch break the other day), was always griping about social security, as well. I forget the details, but she was constantly fuming about some $562 per month that she thought she was owed, for her time in the private sector. However, there was some kind of "windfall" ruling or something like that in the early 80's that she said screwed her over.
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Replying to: andre1969 (Jun 25, 2009 7:53 am) Ida May Fuller worked for three years under the Social Security program. The accumulated taxes on her salary during those three years was a total of $24.75. Her initial monthly check was $22.54. During her lifetime she collected a total of $22,888.92 in Social Security benefits. Now that's a return on your SS contributions 
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Replying to: jimbres (Jun 24, 2009 4:37 pm) Wouldn't inflated profits lead to inflated stock prices, which many pension plans have their own company stock invested in them, thereby "paying" for the yearly obligation with the "inflated stock price"?
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Replying to: wesleyg (Jun 25, 2009 3:57 am) I agree with that. I'm sick and tired of hearing "I don't get that, why should you?". They don't realize that jobs like fire and police can be back breaking, lethal jobs that have a short (20-30 years) career. While most other gov't (state and municipal) employees aren't much more than clerks making $30-40K/yr.
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Replying to: cooterbfd (Jun 25, 2009 1:04 pm) I don't know. I suppose that it might be possible, although I don't think that it's likely, given current market conditions. We won't see "inflated stock prices" anytime soon. Still, I'm not sure why this matters to you. Most of us in the private sector aren't covered by traditional defined benefit retirement plans, which will probably disappear entirely within a generation. That was the point that I tried to make in my earlier post. None of the "new economy" corporations (Apple, Oracle, Microsoft, etc.) offer them. In the future, successful startups will offer only defined contribution plans. |
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Replying to: cooterbfd (Jun 25, 2009 1:12 pm) I hear you. My dad was a career firefighter in California. He spent about 20 years on the line, then had to switch jobs (he became a fire cause investigator, like Robert DiNiro's character in "Backdraft") for the last 13 years due to the accumulated crap in his lungs. The city still covers 100% of his health care for respiratory issues. I remember that he used to do some work on the side teaching CPR and First Aid to the workers on the oil platforms off the coast of CA --- what was interesting was that he was paid a mind-boggling $20/hour to do this! I thought that was all the money in the world at the time. |
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what is it, you and Miss Beth? What's grabbing at your heartstrings, man? Are you really through with us? All of us? New Mother Nature? It can't be true...is this what the British Navy went through when they had conquered all of the world at the time...complete, utter...boredom? You aren't one to give up the battle that easy, are you? Come on back and tantalize us with some more pro-UAW blather, rock.
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iluv...my internal stress levels have been mounting since rocky left...they say it does a man good to punch a punching bag solely to relieve stress, and I have had no one to punch, so I am slowly becoming visibly violent...I miss rocky and his pro-UAW rants, even though he lives in a fantasy world...  ... Then, again, iluv, maybe gagrice and I have convinced him about the truth of the UAW, and he has nothing else to say... Or, Beth hasn't been selling any cars, now SHE'S depressed, he's divorced, and she needs someone to comfort her in her misery...in other words, MAYBE ROCKY IS TOO BUSY FOR THE LIKES OF US IF HE HAS HER... 
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